Why is offshore asset protection necessary?
Why protect assets from judgments offshore? What is offshore asset protection? These are questions that many ask. Here is why. There has been an explosion of litigation in the US and elsewhere. Many small business owners and professionals are seeking ways to protect their assets. These assets includes savings, investments, and other accumulated wealth. Hungry trial lawyers look for these attractive targets. The plaintiffs are often more favored against the defendants in the US Legal system. This encourages spurious lawsuits. A business owner or professional, on average, may be sued several times. Offshore asset protection helps take your assets off the radar screen.The offshore asset protection trust is one of the best asset protection tools around. Our offshore asset protection is US Grantor Trusts and as such, you are not required to go through the complicated reporting requirements that are necessary for many other kinds of asset protection trust.
Offshore asset protection
Acting now while the waters are calm is imperative. Since the deck is often stacked in favor of plaintiffs and against defendants. Failure to plan for such a situation can result in the instant loss of a lifetime’s accumulated wealth. Once a lawsuit has been filed, or one is anticipated, the U.S. Legal System will not allow assets to be moved.
Offshore asset protection jurisdiction
Our preferred trust type is Nevis trust. Nevis has superior laws at a reasonable price. Nevis has laws that are very similar to the laws of The Cook Islands. According to Nevis Trust Laws, any plaintiff is required to post a $25,000 bond before any legal action can commence towards your offshore asset protection trust. Most of our clients desire to use a Nevis IBC as the trustee. This will allow you to maintained some degree of control over your offshore asset protection trust. When forming a Nevis offshore asset protection trusts a certificate showing the formation date and the trust name are received. This is proof of formation that allows the trust to benefit from the Nevis trust laws. An offshore asset protection trust is claimed by many attorneys to be 99.9% judgment proof.
Call us for more information on this. The chart shown above is a common set up that our clients prefer to use. Many attorney’s claim that if you want to be 99.9% judgment proof, then offshore asset protection and an asset protection trust is the way to go.